Member Strength 14,91,148 and growing..
What iz da TAX Treatment of income generated by growing Mushrooms............
Is it an agricultural income.........??
or a taxable under Income Tax Act...??
A NEW SITE FOR CA STUDENTS -
CHK IT OUT..
Since MUSHROOM is a CROP, hence to best of my knowledge INCOME FROM GROWING OF MUSHROOM WILL BE AGRICULTURE INCOME..
agreed with amir
yes, i should be agriculture income, no doubt abt it
I agree with the above suggestions.
Also i want to add that check the activity in accordance with definition of agricultural income given in sec 10(1). If it satisfies all the conditions then it is agricultural income.
Your are not logged in . Please login to post replies
Click here to login
Click here to Register
Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.
Alternatively, you can log in using:
By clicking on "Create My Account"
you are agreeing to the
Terms of Service